Microchip Technology Inc. (NASDAQ:MCHP) has earned an average recommendation of “Buy” from the twenty-one brokerages that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $102.75.
A number of equities analysts have recently issued reports on the stock. BidaskClub raised shares of Microchip Technology from a “sell” rating to a “hold” rating in a research report on Friday, November 16th. Cowen assumed coverage on shares of Microchip Technology in a research report on Friday, February 22nd. They set a “market perform” rating and a $90.00 price objective on the stock. BMO Capital Markets assumed coverage on shares of Microchip Technology in a research report on Monday, November 12th. They set an “outperform” rating and a $92.00 price objective on the stock. Citigroup reissued a “buy” rating and set a $105.00 price objective on shares of Microchip Technology in a research report on Thursday, February 7th. Finally, Zacks Investment Research raised shares of Microchip Technology from a “sell” rating to a “hold” rating in a research report on Monday, December 10th.
Get Microchip Technology alerts:Microchip Technology stock traded up $0.60 during trading hours on Friday, reaching $85.05. 1,802,323 shares of the company’s stock were exchanged, compared to its average volume of 3,054,305. The company has a current ratio of 2.92, a quick ratio of 1.83 and a debt-to-equity ratio of 2.04. Microchip Technology has a twelve month low of $60.70 and a twelve month high of $104.20. The company has a market cap of $20.15 billion, a P/E ratio of 16.39, a PEG ratio of 1.13 and a beta of 1.21.
Microchip Technology (NASDAQ:MCHP) last released its quarterly earnings data on Tuesday, February 5th. The semiconductor company reported $1.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.21. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Microchip Technology had a net margin of 6.53% and a return on equity of 32.30%. The business’s revenue was up 42.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.36 EPS. Equities research analysts forecast that Microchip Technology will post 5.89 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Thursday, February 21st were given a $0.365 dividend. This is a boost from Microchip Technology’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Wednesday, February 20th. This represents a $1.46 annualized dividend and a yield of 1.72%. Microchip Technology’s dividend payout ratio (DPR) is presently 28.13%.
In related news, Director Matthew W. Chapman sold 4,660 shares of the firm’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $91.04, for a total value of $424,246.40. Following the transaction, the director now owns 19,080 shares of the company’s stock, valued at approximately $1,737,043.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Mitchell R. Little sold 3,585 shares of the firm’s stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $91.17, for a total transaction of $326,844.45. Following the completion of the transaction, the vice president now directly owns 7,693 shares in the company, valued at approximately $701,370.81. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,601 shares of company stock worth $961,340. 2.13% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in MCHP. Clarfeld Financial Advisors LLC purchased a new stake in Microchip Technology in the 4th quarter valued at about $26,000. Oregon Public Employees Retirement Fund increased its stake in Microchip Technology by 7,043.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,841,512 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 1,815,732 shares during the last quarter. Morgan Dempsey Capital Management LLC purchased a new stake in Microchip Technology in the 4th quarter valued at about $28,000. Lindbrook Capital LLC purchased a new stake in Microchip Technology in the 4th quarter valued at about $32,000. Finally, Enlightenment Research LLC purchased a new stake in Microchip Technology in the 4th quarter valued at about $43,000.
Microchip Technology Company Profile
Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit microprocessors; and microcontrollers for automotive networking, computing, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity.
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